Long-suffering Ansett staff get another payout

STAFF of collapsed airline Ansett have received another dividend
along with the caution they will never receive their full
entitlements.

Administrator KordaMentha said yesterday that a $15.3 million
payment would be made this week  the eighth payout since the
airline folded in September 2001. Yesterday's dividend brings to
$676.2 million the payments made to Ansett's 15,000 former
staff.

The employees are owed $760 million, but it is unlikely the
amount will ever be repaid in full.

Administrator Mark Korda said yesterday he expected "on average,
employees will receive over 90¢ in the dollar of their
entitlements". The latest payout follows further sales of assets
since December 2006.

The administrator has sold the assets at Ansett's Melbourne
Airport maintenance base to John Holland Aviation Services.

The eighth dividend payment is 10 per cent of each employee's
outstanding entitlements.

The payments will average $1000 per employee, with some
employees getting more than $9000.

Of the $15.3 million dividend this week, $9.3 million goes to
former Ansett employees and $6 million to the Federal Government to
repay staff entitlements previously advanced under a special
assistance program.

The administrator said further dividends would be paid over the
next one to two years, depending on further asset sales.

Ansett was Australia's second-largest airline when it was placed
into voluntary administration the day after the September 11
terrorist attacks in the US in 2001.